QUODD Unveils Enhanced Market Data Platform Post-Xignite Acquisition

QUODD, a provider of on-demand market data, has reintroduced its market data platform and API marketplace, integrating assets from its acquisition of Xignite in February 2023. QUODD’s two primary product sets, QX Digital Platform and QX Data, are powered by QX Technology, a modern cloud-based infrastructure and toolkit for the automation, control, and consumption of all types of financial market data information.

QX Digital Platform, QUODD’s flagship institution-facing market data platform, connects workflows from back to front office with mission-critical functionality. QX Data now offers the QX Marketplace for advanced tech buyers seeking programmatic access to QUODD’s cloud-based, integrated suite of market data APIs.

Pico Launches Next-Gen Corvil Analytics Appliances for Enhanced Financial Market Performance

Pico has unveiled its Next-Gen Corvil Analytics Appliances, powered by Intel’s latest 4th Gen Xeon scalable processors, designed to provide analytics for 40/100Gbps networks. The new appliances offer sustained 30Gbps packet capture, with Intel Quick Assist Technology (QAT) used to optimise capture data compression at speeds up to 100Gbps.

According to the company, the NVMe SSD drives used in the appliances create a significant improvement in storage technology, offering faster speeds, reduced latency, and increased efficiency for data storage and retrieval. Pico claims that the appliances can generate up to a 62% reduction in price-to-performance ratio.

Exegy and BMLL Technologies Team Up for Historical Data and Analytics

Front-office trading solutions provider Exegy has formed a strategic partnership with BMLL Technologies, the independent provider of harmonised Level 3 historical data and analytics. The collaboration enables clients to use BMLL’s granular, historical data to fine-tune algos and to derive alpha through Exegy’s back-testing and simulation solutions.

The partnership aims to free up much of the time that quants spend on data analysis, allowing them to focus more of their time on algo development. This is expected to be especially beneficial for firms keen on quick strategy testing and implementation.

Deutsche Börse Announces Final Tender Result for Takeover of SimCorp

Deutsche Börse has announced the final tender result for its public takeover of SimCorp. Including open market purchases, Deutsche Börse now holds approximately 94% of all SimCorp shares, excluding SimCorp’s treasury shares. The offer is expected to be settled and closed on 29 September 2023. Deutsche Börse will seek to initiate and complete a compulsory acquisition of the SimCorp shares held by the remaining minority shareholders as soon as possible and have SimCorp shares removed from the official listing on Nasdaq Copenhagen.

Brightwell Selects Duco’s Data Automation Platform

Brightwell, a defined benefit services provider, has selected Duco’s data automation platform as part of its target operating model transformation. The platform will be used in Duco’s investment operations department to replace an inflexible legacy system that was limiting the firm’s growth and will enable Brightwell to normalise data and consolidate reconciliations for FX, OTC and ETD derivatives, fixed income and cash balances as trading volumes grow. Features such as advanced filters, transaction rollup rules, conditional rules and the Data Prep module will also help Brightwell reduce the number of exceptions, allow them to build complex matching rules, and bring down the number of false positives.

HKEX Plans to Widen Climate Disclosure Rules

Hong Kong’s financial regulator has said it will increase requirements for companies to disclose climate-related data as it seeks to better enable investors to direct capital to ESG-linked assets and companies. Hong Kong Exchanges and Clearing (HKEX) chair Laura Cha Shih May-lung said the plans would be introduced in pursuit of helping China reach its 2060 net-zero goals.

ExeQution Analytics Launches to Offer Customised Trading Analytics Solutions

ExeQution Analytics, a new trading analytics company, has officially launched with customised analytics solutions for both buy-side and sell-side firms. These services aim to reduce implicit costs for buy-side firms and help sell-side firms refine trading strategies. Founded by Kdb expert Cat Turley, the company has established offices in Sydney and Hong Kong with foundation clients including a sovereign wealth fund and a Hong Kong trading bank.

The ExeQution Analytics Framework integrates with client data to create bespoke analytics and visualisations. It is compatible with existing tick capture systems and technology stacks, and operates across Windows, Mac, and Linux using a range of programming languages. The company has deployed solutions in various sectors including prop trading, asset management, and broking.

Broadridge Financial Solutions Introduces Automated Reconciliation Platform, BRx Match

Broadridge Financial Solutions has launched BRx Match, a cloud-based platform for reconciliation and data matching. Aimed at both business and operational users, the platform aims to simplify the reconciliation process from start to finish by offering an automated, transparent, and efficient approach to handle a wide range of reconciliations across sectors like securities, cash, and insurance, reducing both risk and overall costs.

BRx Match is designed to provide a consolidated solution for all reconciliation needs across an enterprise. It comes with various matching engines and allows users to design and deploy their own reconciliation methods. Existing Broadridge clients will receive the new user interface and features as part of their ongoing service, with an option for a new self-service capability.

EU Considers Rewriting Sustainability Categorisations for Financial Products

The European Commission is reviewing parts of its flagship regulation covering financial institutions’ ESG performance reporting. In a consultation questionnaire on the Sustainable Finance Disclosure Regulation (SFDR) market participants are queried on the way sustainability products are categorised. This follows complains that the designation of products as Article 6, 8 or 9 – indicating increasing degrees of sustainability – is confusing. The consultation also indicates the EC is considering requiring ESG disclosures for all financial products, even those that make no sustainability claims.

Bloomberg Launches Alternative Data Function, ALTD < GO >

Bloomberg has introduced a new alternative data function, ALTD <GO>, offering customers an early read on company performance, side-by-side with traditional fundamental data on the Bloomberg Terminal. Through ALTD <GO>, users can incorporate consumer transaction data analytics, location analytics and other types of alternative data into their research workflows.

The flagship data analytics source for ALTD <GO> is Bloomberg Second Measure, which uses aggregated analytics from billions of credit card and debit card purchases to provide near real-time consumer transaction insights on over 300 public tickers. ALTD <GO> also includes location analytics data from Placer.ai, which analyses foot traffic data from tens of millions of mobile devices, applying machine learning and AI algorithms to make estimations on visits to retail locations across the US.